Volume II of "The Nature and Art of Financial Supervision - Virtual Financial Assets"
The Malta Financial Services Authority (‘MFSA‘) published the second volume of “The Nature and Art of Financial Supervision” dealing with Virtual Financial Assets (‘VFAs’). The publication is intended to provide VFA Agents, VFA Service Providers and Initial Virtual Financial Asset Offerings (IVFAOs) guidance on financial supervision of VFAs.
In its concluding remarks, the MFSA recognised that the VFA sector is a new sector in Malta which is still in its embryonic stage. However, it urged VFA licence holders as well as prospective applicants under the VFA Act to note the findings set out in the publication and to adopt recommendations or take corrective action where appropriate in order to match the MFSA’s expectations.
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